I'm with spanyo on this one. If it is necessary to reach out to the shareholders who just got pummeled, it should be coming from the pockets of management. Let management's confidence speak to the street.

Sirius XM Radio has more pressing matters to handle, and wiser ways to use their cash.

Spanyo, I said why before in the main site. I will say it again, where do think most of there pay comes for? Thats right they are paid in company stock. So each and every quarter they buy shares weather they want to or not.

A Symbolic Gesture of Buyback

Would be helpful. Is it true that the former XM CEO is to receive severance pay of $100 million or is that false info from bashers? If SIRI XM can pay out $100 million right now after sticking its stockholders in the neck with a fork, then they can buy back some stock also. A symbolic gesture or any gesture on the part of the company to demonstrate some faith in itself would be helpful to the company and its shareholders. Also, is there any potential for a lawsuit against Cramer for his untimely bashing?

As much as I'd absolutely love to see Sirius XM do a stock buyback of hundreds of millions of shares, if they did it at this time I think they would look reckless. They are known by everyone to be losing money at this point, they were recently forced to borrow more money at too high interest rates, and, although they say they will be cash flow positive in the not too distant future (and I believe they will), that is just an unguaranteed projection. If they did a stock buyback at this time, with the uncertainties of the economy and stock market at this time, compounded by the fact that they are still losing money, such action would yield about 2 minutes of joy. After that I think a lot of investors would run for the hills, feeling that building the company is now the only thing to do with scarce money. Hope everyone is having a great weekend!

Hey John, I didn't mean to sound like Mel and Gary SHOULD buy shares. They can do whatever they want with their money. I just meant that I thought it would be smarter for the individuals to buy shares than the company, if the goal was to pump some life into the stock price.

I just thought if I were in their positions I would be buying more stock. I believe in the potential here. I am sure that so do they. In fact if I was Mel, at these prices, I would want all of my salary to be in the form of company stock.

Mel has a lot of eggs... in a lot of baskets. If I was him, I would be getting a bigger basket for my siri stock... I know that I am contemplating getting a bigger basket for mine.

"What are we a communist state were the majority can tell a person how to spent his money. I do think you are right to a certain point though. If Mel has that much confedence in SIRI XM then why is he not buying at this price. Maybe it is because most of his pay comes in the form of company stock already. You ever heard of an old saying, “dont put all your eggs in one basket”."

I believe Mel did this for the shareholders as much as for himself if not MORE for the shareholders. This if anything should get people off his back, a place I dont think they had any right to be.

As for the rest of you pissed off investors:

If I were Mel reading some of these post I would be pissed and be saying to myself what ingreats are these people. Is it not enough for them I cut the shit out of cost, which got SIRI to have FCF positive for half of 2007 all the while having my hands tied. Is it not enough that I did what most thought impossible got the only 2 satellite radio companies merged, and my god look at the piss-anti concession I was able to get by them. Whats next, you want me to jump into a volcano for you.

I for one would like to thank Mel for doing something that was not in his job describtion. (Well it is, but he fullfilled that part of it a long time and millions of shares ago.)

John, The "communist state..." part of your comment seemed a bit over the top to me... But the rest makes perfect sense.

I think he DID do it more for the shareholders...although that obviously includes him. But even at 6.5 million shares, with the future of this company, money will just be a way for Mel to keep score. I actually would have been happy if he did not make the purchase. I was having fantasies of buying a lot more shares for under $1.

I've never been down on Mel. Not even for a second. I'm Long. He knows what he is doing and I have faith in that. Unless this stock becomes wildly overvalued, I'm not looking to sell for at least 4 years.

I see this stock as a slingshot pointed at the sky. As it is being pulled back it has to go down. But when it is let go, it's going towards those satellites.